TIAA CREF Investment Management LLC bought a new stake in SendGrid (NYSE:SEND) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 13,045 shares of the company’s stock, valued at approximately $313,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in SEND. American International Group Inc. acquired a new position in shares of SendGrid in the fourth quarter worth $134,000. The Manufacturers Life Insurance Company acquired a new position in shares of SendGrid in the fourth quarter worth $153,000. Virtu Financial LLC acquired a new position in shares of SendGrid in the fourth quarter worth $297,000. California State Teachers Retirement System acquired a new position in shares of SendGrid in the fourth quarter worth $313,000. Finally, Schwab Charles Investment Management Inc. acquired a new position in shares of SendGrid in the fourth quarter worth $317,000. 40.07% of the stock is currently owned by institutional investors.
Shares of SendGrid opened at $26.39 on Friday, Marketbeat Ratings reports. The company has a debt-to-equity ratio of 0.06, a current ratio of 10.16 and a quick ratio of 10.16. SendGrid has a 12 month low of $17.50 and a 12 month high of $32.03.
SendGrid (NYSE:SEND) last issued its earnings results on Monday, February 26th. The company reported ($0.01) EPS for the quarter. The company had revenue of $31.73 million for the quarter, compared to analysts’ expectations of $29.45 million. equities research analysts forecast that SendGrid will post -0.1 EPS for the current year.
In other SendGrid news, SVP Craig Kaes sold 35,000 shares of the company’s stock in a transaction on Tuesday, April 10th. The shares were sold at an average price of $22.86, for a total value of $800,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Group Select Fund L.P Foundry sold 2,952,718 shares of the company’s stock in a transaction on Tuesday, April 10th. The shares were sold at an average price of $22.86, for a total transaction of $67,499,133.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,355,949 shares of company stock valued at $76,716,994. Insiders own 30.20% of the company’s stock.
Several equities analysts have commented on the stock. Morgan Stanley boosted their price target on shares of SendGrid from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 2nd. Stifel Nicolaus boosted their price target on shares of SendGrid from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, May 2nd. Zacks Investment Research downgraded shares of SendGrid from a “hold” rating to a “sell” rating in a research note on Tuesday, May 1st. Canaccord Genuity assumed coverage on shares of SendGrid in a research note on Wednesday, April 25th. They issued a “buy” rating and a $32.00 price target for the company. Finally, Piper Jaffray restated a “buy” rating and issued a $32.00 price target on shares of SendGrid in a research note on Monday, April 23rd. One analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $31.67.
SendGrid, Inc operates as a digital communication platform in the United States and internationally. Its cloud-based platform provides various tools to the businesses, including developers and marketers to reach their customers using an email. The company offers services, such as email application programming interface (API), which allow developers to use its API in their preferred development framework and to use its platform to add email functionality to their applications; marketing campaigns that allow marketers to upload and manage customer contact lists, create and test email templates, and execute and analyze email campaigns to engage customers; and expert services to help businesses optimize their email delivery.
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